NEW YORK (CNN/Money) -
Limited Brands posted improved fiscal second-quarter results Thursday that topped Wall Street's most optimistic expectations, and said it is comfortable with current second half forecasts.
The apparel retailer earned net income of $83.2 million, or 16 cents a share, in the period ended Aug. 3, up from $34.5 million, or 7 cents a share, on continuing operations before special items a year earlier. Analysts surveyed by earnings tracker First Call had a consensus forecast of 12 cents a share and a range of 8 to 14 cents.
The company said it is comfortable with First Call's third-quarter consensus EPS forecast of 4 cents and its fourth-quarter forecast of 76 cents, with a mid-single digit percentage gain in sales at stores open at least a year, a closely watched retail measure known as same-store sales.
Second-quarter sales rose 8 percent to $2.11 billion from an adjusted $1.96 billion a year earlier, edging past First Call's forecast of $2.09 billion. Same-store sales rose 4 percent.
Shares of Limited (LTD: Research, Estimates) gained 63 cents to close Wednesday at $16.61.
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